FREE Guide: 6 Fibonacci Types that Create the Most Precise Price Levels, Targets, and Reversal Zones

October 5 Chart of the Day - Constellation Brands

If you've been following our Chart of the Day posts and have benefited from one or more of them we ask that you consider participating our NEW Pay It Forward - Traders Helping Traders program.

Constellation Brands, Inc. (STZ) is a provider of premium wine, the number one beer importer and the number three beer company in the U.S.

The company’s brand portfolio includes Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Pacifico, Ballast Point, Robert Mondavi, Clos du Bois, Kim Crawford, Meiomi, Mark West, Franciscan Estate, Ruffino, Jackson-Triggs, SVEDKA Vodka and Casa Noble Tequila.

Now that we have that cleared up and familiarized you with the company's products let dive into their stock price.

From a price action technical analysis perspective on the monthly chart we can see price drifting around $243 back towards structure after making new all time highs (ATH) at $273.65 with potential support around the $235 area.

Down on the weekly chart is where we can see actionable levels in both directions from which to develop a trade and/or investment plan.

Since the $104.28 COVID pandemic lows back in the spring of 2020 price has been consistently making a series of higher highs and higher lows /aka/ an uptrend.

We can see a channel that has developed with upper and lower boundaries in the form of upward sloping trend lines.

Frequently, price likes to ping pong within a chart pattern like this until it doesn't.  The question is when or if a chart pattern will break or continue.

Nobody knows with any certainty what future price action will be but using price action tools native to every charting platform and applying technical analysis principles we can identify math based levels of interest.

So what's next? 

We don't make predictions...

Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.

  1. Support/Resistance
  2. Trend
  3. Fibonacci 
  4. Supply/Demand Zones,
  5. Change Control Zones

Take a look at the charts and let us know what you think.  

We'd like to hear from you in the comments sections.

Have a chart you'd like to see featured? 

Send requests at

Would you like charts like this delivered directly to you every day?  ChartPros Trade Room is offering an OPEN HOUSE 7-day free trial at this link.





Leave a comment

Name .
Message .

Please note, comments must be approved before they are published